Trail Ridge Enters $40 Million Private Equity Commitment
Trail Ridge Energy Partners, LLC has received an equity commitment of $40 million from Kayne Anderson Energy Funds and from Trail Ridge management for the acquisition and development of oil and gas assets in the Midcontinent region. Rivington Capital Advisors, LLC, and its affiliate, Rivington Securities, LLC, acted as financial advisor and placement agent to Trail Ridge for the financing.
Trail Ridge was formed by Ron Wade and Chuck Cederberg with a focus on strategic acquisitions and development of assets located primarily in the Midcontinent region of the United States. Ron Wade, President and Chief Executive Officer of Trail Ridge, has more than 25 years of oil and gas experience. Prior to forming Trail Ridge, Ron was the Vice President of Engineering with Redman Energy, a private Houston-based oil and gas company. Chuck Cederberg, Chief Financial Officer of Trail Ridge, has more than 33 years of experience in accounting and finance positions with oil and gas companies, most recently serving as Chief Financial Officer for Redman Energy.
"We are very pleased to have Kayne Anderson as our partner, and believe with their financial strength, we are competitively positioned to achieve the goals we have set for Trail Ridge," stated Ron Wade. "We look forward to developing our first of many acquisitions and securing additional acreage and development drilling opportunities in the Midcontinent region of the United States. We are deeply committed to achieving success for our capital and operating partners."